TC Group Makes Offer to Purchase the Shares of TGI plc
December 19, 2001
TC Group, the Danish parent company of TC Electronic, TC Works, and
TC-Helicon, has today made an offer to the shareholders of TGI plc to
purchase their holdings in the company. TGI plc is listed on the London
Stock Exchange.
TGI plc is a holding-company comprising four companies representing
individual platforms on the speaker market, i.e. the highly respected
Scottish speaker manufacturer, Tannoy, encompassing more than 75 years of
experience, as well as the English Martin Audio, renown worldwide for their
high-end PA speaker solutions. Also represented within the TGI plc Group is
the Swedish company, Lab Gruppen, producing power supplies and high-end
amplifiers, and GLL, producing speakers for the car-industry.
"The purpose for wishing to merge with TGI plc is actually quite simple. It
is a matter of creating synergy between the TC technology in digital audio
processing and TGI's years of experience in developing, producing and
marketing speakers. By combining digital technology from TC and the speakers
developed and produced within the TGI plc Group, we will be able to develop
and market new products, that we believe will have a significant potential
in the markets," says CEO at TC Group, Anders Fauerskov.
Considerable investments in the development of digital audio technology
"In the recent years TC have invested considerably in the development of the
digital technology which we are now introducing to the market. In this
context it is believed that TGI plc and TC are ideal partners, due to the
TGI companies' experience and position on their markets today. With a
portfolio of high-end products and reputation for top-end quality, the
TGI-companies are a perfect match for TC Group, known as one of the leading
companies in the digital processing industry," states Anders Fauerskov.
"The ambition is to join the two companies to increase the individual
strengths through cooperation, and benefit mutually from this ..." Anders
Fauerskov concludes.
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